GE Aerospace announced last night that it had renewed the mandate of its CEO Lawrence Culp Jr. until the end of 2027, or even until the end of 2028 if the parties agree.

In a press release, the American aerospace group explains that it has extended Culp's mandate - which was due to expire next August - due to the 'extraordinary' nature of his leadership.

Under its umbrella, the GE conglomerate recently broke up into three entities: GE HealthCare (healthcare equipment), GE Vernova (energy equipment) and GE Aerospace (aerospace systems).

Beyond the demerger operation, Lawrence Culp has succeeded in reducing the group's debt by more than $100 billion since 2018, the company states.

Since his arrival at the head of the group in 2018, the share price has also risen by more than 140%.

Following this announcement, GE Aerospace shares were up 1.6% on Tuesday on the New York Stock Exchange at the start of trading.

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